With Lithia Motors president and chief executive officer Bryan DeBoer saying his company is excited to enter the Sacramento market “and further expand our network with a dominant luxury vehicle presence,” Lithia Motors announced it has acquired two Lexus stores in Sacramento and Roseville, Calif.
Lithia expects those stores to generate $160 million in revenue.
“These stores kick off an expected strong year of growth in our core business and, combined with our digital strategies, further our vision to serve customers wherever, whenever and however they desire,” DeBoer said in a news release.
The company said the stores exemplify Lithia’s strategy of purchasing strong franchises.
Those two stores are now part of Lithia's physical nationwide network of 189 stores, with 42 California locations representing 21 brands.
“Our new teams in the state capital possess years of knowledge and expertise on the Lexus brand, and we are fortunate that they are joining the Lithia family," DeBoer said.
Lithia says it expanded its reach to 92% of the United States in 2019.
According to the company, that makes it “the broadest coast-to-coast automotive retail network.”
“Lithia Motors continues to incrementally and profitably modernize the industry through its mission of ‘Growth Powered by People,’” the company said.